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Luxury Brand Marketing and Starbucks - Case Study Example

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Thу report discusses the difficulties of marketing luxury brands in today’s economy, with an in-depth analysis of the condition of Starbucks and their attempts to re-invigorate the brand to emerge a success in the face of challenging economic conditions at the domestic and international level…
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Luxury Brand Marketing and Starbucks
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Download file to see previous pages The researcher states that it has been offered that luxury brands tend to remain stronger during times of economic hardship than other luxury brands, however, there is evidence that increased global competition in luxury brands, as well as more price-conscious luxury consumers, are making luxury brands suffer in today’s recessionary environment across the world. This impacts companies like Starbucks, the global coffee house, which has typically positioned its products as luxury goods and had, up until 2007, experienced explosive growth rates and same-store sales increases. After 2007, however, Starbucks began to experience noticeable drops in consumer patronage and was witnessing sales declines in same-store revenues. Much of this problem can be attributed to poor marketing strategy, an over-reliance on rapid global expansion, and changing consumer behavior patterns around the globe. This report discusses the difficulties of marketing luxury brands in today’s economy, along with an in-depth analysis of the condition of Starbucks in 2007 and their current attempts to re-invigorate the brand to emerge a success in the face of challenging economic conditions at the domestic and international level. “As luxury brands have adopted mass-market brand models, so have mass market brands started to mold themselves into incarnations of luxury goods”. Even though analysts and marketing experts believe that luxury goods tend to emerge more successful during times of economic difficulty, luxury brands are experiencing noticeable declines with the growth of international competition. Non-luxury products, in an effort to remain competitive, are repositioning their products to appear luxury, therefore appealing to mass market audiences and not necessarily the elite and upscale buyers. Using clever and innovative advertising and similar promotion, companies are able to send the consumer perception that their non-luxury goods actually fit in a luxury category, therefore making them more appealing. ...Download file to see next pages Read More
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